Gold Settles at Two-Week Low, Silver Near Unchanged

by CoinNews.net on September 26, 2012 · 0 comments

U.S. Money

Gold was pressured by a stronger U.S. dollar

Gold closed at a two-week low Wednesday, pressured by a stronger U.S. dollar and general weakness in commodities.

Gold prices for December delivery declined $12.80, or 0.7%, to settle at $1,753.60 an ounce on the Comex in New York. The settlement price was the lowest since gold closed at $1,733.70 an ounce on September 12. Gold traded between intraday levels of $1,738.30 and $1,768.40.

"Global anxieties surrounding Europe are flaring up, and we are seeing a flight to cash," Adam Klopfenstein, a senior market strategist at Archer Financial Services Inc. in Chicago, said in a telephone interview that was relayed on Bloomberg. "People are in a risk-off mode today."

In other New York bullion prices:

  • Silver for December delivery was nearly unchanged, dipping eight-tenths of a cent to $33.940 an ounce. The white metal ranged from a low of $33.36 to a high of $34.11.

  • Platinum for January delivery — the new, most active contract — rose $3.20, or 0.2%, to $1,639.20 an ounce. Platinum traded between $1,616.50 and $1,640.60.

  • Palladium for December delivery declined $15.00, or 2.3%, to $625.85 an ounce, ranging from $617.45 to $640.95.

London Bullion Prices

Bullion prices in London were lower Wednesday. In contrasting the most recent London PM Fix prices:

  • Gold declined $26.75, or 1.5%, to $1,744.75 an ounce,
  • Silver fell 13.0 cents, or 0.4%, to $33.88 an ounce,
  • Platinum shed $12.00, or 0.7%, to $1,621.00 an ounce, and
  • Palladium lost $17.00, or 2.7%, to $624.00 an ounce

U.S. Mint Bullion Coins

Sales of U.S. Mint bullion coins were unchanged Wednesday as of 4:20 p.m. ET. Below are the latest daily, September and year-to-date bullion sales as published by the U.S. Mint.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Daily Sales September Sales YTD 2012
$50 American Gold Eagle Bullion Coins 0 56,500 404,000
$25 American Gold Eagle Bullion Coins 0 2,000 61,000
$10 American Gold Eagle Bullion Coins 0 4,000 62,000
$5 American Gold Eagle Bullion Coins 0 30,000 245,000
$50 American Gold Buffalo Bullion Coins 0 8,000 96,000
American Silver Eagle Bullion Coins 0 3,225,000 25,765,000

 

Sales of America the Beautiful 5 Oz. Silver Bullion Coins
  Daily Sales September Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Coins 0 1,200 17,900
2012 Chaco Culture National Historical Park 5 oz. Silver Coins 0 0 17,000
2012 Acadia National Park 5 oz. Silver Coins 0 2,900 18,000
2012 Hawai’i Volcanoes 5 oz. Silver Coins 0 10,400 10,400
2011 Olympic National Park 5 oz. Silver Coins 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Coins 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Coins 0 0 29,700
TOTAL 0 14,500 214,400

 

Sales figures above are in the number of coins sold, not in the amount of ounces sold.

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